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Welspun Turns To J.P. Morgan For GDR
J.P. Morgan has been named depositary bank by Indian manufacturer Welspun Corp Ltd in relation to the company’s $115m Global Depositary Receipt (GDR) listing.
Welspun, which manufactures and delivers pipes to a global client list including Fortune 100 companies in the oil and gas sector, issued 23,026 GDRs representing 23,026,000 common shares.
B.K. Goenka, Welspun chairman, says: “This GDR listing is a crucial step in our journey to realise our ambitious ‘ore to pipes’ vision for the company.”
Posted at 09:42 AM in News & Comment | Permalink